Kestra Investment Management LLC Invests $601,000 in Lam Research Co. (NASDAQ:LRCX)

Kestra Investment Management LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the third quarter, HoldingsChannel.com reports. The firm bought 736 shares of the semiconductor company’s stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of Lam Research by 15.0% during the first quarter. EverSource Wealth Advisors LLC now owns 353 shares of the semiconductor company’s stock worth $316,000 after buying an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Lam Research by 11.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 408 shares of the semiconductor company’s stock worth $434,000 after acquiring an additional 41 shares during the last quarter. Mather Group LLC. grew its holdings in Lam Research by 15.1% during the 2nd quarter. Mather Group LLC. now owns 1,978 shares of the semiconductor company’s stock worth $1,922,000 after acquiring an additional 259 shares in the last quarter. Fulton Bank N.A. grew its holdings in Lam Research by 22.6% during the 2nd quarter. Fulton Bank N.A. now owns 1,354 shares of the semiconductor company’s stock worth $1,442,000 after acquiring an additional 250 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Lam Research by 11.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,914 shares of the semiconductor company’s stock valued at $5,233,000 after purchasing an additional 508 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX opened at $73.88 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The business’s fifty day moving average price is $76.52 and its 200 day moving average price is $86.64. The stock has a market capitalization of $95.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $6.85 EPS. Equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Sanford C. Bernstein dropped their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday. UBS Group decreased their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Mizuho dropped their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Morgan Stanley reduced their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.